Quiz 3 _ Section A_upto7PM

Establishing a company without a basis is one of the pitfalls to avoid by entrepreneurs.

• True

• False

• Maybe

• Not at All

Always forget to lay a foundation for your business while you prepare the structure of your enterprise.

• True

• False

• Maybe

• Not at All

In having a little knowledge about the industry, you must conduct thorough market and industry research before starting a business.

• True

• False

• Maybe

• Not at All

To build your firm in a certain industry, extensive research is required

• True

• False

• Maybe

• Not at All

You must expand your personal skill set if you do not want to succeed as an entrepreneur. 

• True

• False

• Maybe

• Not at All

The major goal of your business plan is to create a document that evaluates all aspects of your operation's financial viability, including a description and evaluation of your company's prospects

• True

• False

• Maybe

• Not at All

It can be applied as a sales technique while haggling with close friends or family members

• True

• False

• Maybe

• Not at All

In business plan preparation always exclude a cash flow for the following year that accounts for your capital needs

• True

• False

• Maybe

• Not at All

In business plan don't forget to describe your backup strategies for handling business losses

• True

• False

• Maybe

• Not at All

You must prioritize to describe your main business concept in doing business plan.

• True

• False

• Maybe

• Not at All